Sherri Shepherd is leaving "The View" after seven years and freshman co-host Jenny McCarthy said she's right behind her, a major upheaval for the daytime talk show a month after creator Barbara Walters' retirement from on-camera duties.

In a written statement Thursday, Shepherd said that after "careful consideration" she has decided it's time to move on.

According to a person familiar with the situation, Shepherd was negotiating a new contract and she and ABC failed to reach an agreement. The person wasn't authorized to discuss the matter publicly and spoke on condition of anonymity.

Shepherd's manager, Darris Hatch, replied "yes" in an email when asked if that was accurate.

Shepherd got a Twitter shout-out from fellow host Jenny McCarthy, whose one-year contract ended without a new deal, according to the person familiar with the situation.

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A source told FOX411 earlier this week that the network wouldn't renew McCarthy's contract because she didn't mesh well with the show's audience.

“Jenny just didn’t appeal to the daytime audience market. They couldn’t relate to her,” a source told FOX411. “There are a lot of changes taking place now that Barbara [Walters] has left.”

"If Sherri goes ... I go too," McCarthy tweeted Thursday from her verified account, adding "#sisters," followed by another tweet: "My View will be changing too. As will with many hard working folks. Thanks to everyone at the show for your dedication and an amazing year."

McCarthy's publicist didn't immediately respond to a call and email seeking comment. Walters, who retired as a host but remains executive producer of "The View," did not immediately respond to a request sent to the publicity firm, which also represents her.